Nykaa – How Did It Start?
It changed into the inconsistencies witnessed withinside the marketplace of splendor merchandise, which gave Falguni Nayar, the founding father of the corporation the preliminary impetus. The splendor and beauty merchandise marketplace of India changed into now no longer at par with the scope of the goods, because it changed into in different countries like France and Japan even though the marketplace call for changed into high. Furthermore, the goods have been additionally found unavailable in lots of locations across the country, all of which caused the formation of Nykaa.
Nykaa changed into based via way of means of Falguni Nayar withinside the yr 2012. It, first of all, commenced as an internet organization and in the end, switched to being an omnichannel strategy.
Based out of Mumbai, Nykaa is famous for its huge variety of splendor and cosmetics merchandise, fashion, and intimate put on that the corporation makes to be had via its online website, app, and thru its online stores
Nykaa – Founder And Team
Falguni Nayar is the founding father of Nykaa, which currently stands as one every of India’s largest way of life and style portals. Nayar turned into a scholar of IIM Ahmedabad from which she finished her MBA in Finance.
She joined Kotak Mahindra Capital Company, a main funding financial institution of India quickly after becoming a graduate. Nayar Managing Director of the equal department of the financial institution in 2005. She served the financial institution for 18 lengthy years and then resigned which will dedicatedly comply with her entrepreneurial dream.
Nykaa – Growth
Nykaa currently boasts over 5 million monthly active users. Here we take a look at some of the highlights of the brand’s growth from October 2021: Nykaa claims to have more than 15 million registered users. It has more than 70 stores across India.
boasts of having more than 500 brands. Nykaa is jam-packed with over 130,000 products that can be accessed through its website, app, or in its stores. Nykaa was having its tough days during the shutdown following the coronavirus pandemic outbreak when the company saw sales fall as much as 70% in April 2020. However, the company responded quickly and effectively listed all essential items, keeping them in stock and eliminating any other out-of-stock inventory.
The company began advancing its physical businesses by taking advantage of the simplicity of its hyper-local delivery. Nykaa recovered quickly from the harmful effects of the COVD19 pandemic and was already more than 90% recovered from what it was. during the outbreak of the pandemic in late 2020.
Cosmetics and beauty brand Unicorn has seen a massive consumer shift towards essential categories, including personal skin and hair care items, and this has helped it grow stronger than its rivals faster after the coronavirus attack. From an online model to an omnichannel retail model, it has done a lot too.
All of this not only changed how customers perceived the brand but also helped Nykaa attract audiences that they previously couldn’t or might not be able to reach.
Nykaa currently boasts of having over 5 million monthly active users. Here are some highlights of the brand’s growth, as of October 2021: Nykaa claims to have over 15 million registered users. It has more than 70 stores across India. The company has more than 500 brands. Nykaa is full of more than 130,000 products accessible from its website, through its app, or in its stores.
Nykaa had a rough day during the lockdown due to the outbreak of the coronavirus pandemic when the company saw sales plummet by as much as 70% in April 2020. However, the company was quick in its reactions and took them down. all listed the essentials. efficiently to keep them in stock and remove all the rest of the undeliverable inventory. Soon after, the company began promoting its physical stores by leveraging its hyperlocal delivery facility.
Nykaa quickly recovered from the adverse effects of the COVD19 pandemic and had already recovered to more than 90% of what it was during the pandemic epidemic at the end of 2020. The cosmetics and beauty brand Licorne has seen a major consumer shift into core categories including personal skin and hair care products, and that’s what has helped it grow stronger than its rivals after the onslaught of the coronavirus.
Additionally, the company’s shift from an online model to an omnichannel retail model has also contributed significantly to the same. All of this not only changed the perception of the brand by customers but also helped Nykaa gain an audience that she did not or perhaps could not reach before.